Costs drag down hospital group’s profits by 97%

Restructuring costs, including redundancy payments, contributed to profits at the country’s largest privately owned hospital group plummeting by 97% last year to €155,000.

Newly filed accounts for the Cork-based Bon Secours Health Systems Ltd show that the group’s profits last year decreased sharply by €4.96m from €5.1m to €155,000. The profit dive came after revenues reduced by 1% from €223.7m to €221.34m.

The group employs 2,500 personnel, along with 350 leading medical consultants, in privately run hospitals in Cork, Dublin, Galway, and Tralee; and provides care to 200,000 patients annually.